Behind ROKU's Massive Surge

Both the Dow and Nasdaq logged triple-digit losses

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Schaeffer's Market Recap
5/12/2021
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Dow Drops to One-Month Low as Inflation Fears Grip Wall Street


By: Fernanda Horner

The market decline worsened by the end of Wednesday's session as Big Tech's extended selloff and a higher-than-expected jump in inflation data continued to take its toll on Wall Street. April inflation grew at its fastest rate since 2008, leaving investors worried it could start to negatively impact margins and corporate profits.

The Dow fell 681 points, settling at its lowest close in over a month, and marking its biggest drop since Jan. 29. The Nasdaq and S&P 500 also closed with substantial losses, with the latter logging its worst day in over two months. Meanwhile, the Cboe Volatility Index (VIX) -- Wall Street's fear gauge -- closed above the 27 mark for the first time since its March 4 spike.  

Continue reading for more on today's market, including:

  • This streaming name surged after hiking its full-year forecast.
  • Wendy's stock locked in a fresh high for 2021 after an upbeat earnings report.
  • Plus, why EA turned volatile; INTU's pre-earnings bull note; and one oil stock with plenty of room to run.
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